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May 31, 2011

Developer plans OOB cottage resort

By The Mainebiz News Staff

A Massachusetts developer is planning to build a three-season cottage resort in Old Orchard Beach, a $6 million project.

Bernie Saulnier has agreed to buy the existing Jeremiah's Cottages, with plans to raze them and build a resort called Summer Winds, which will feature 53 modular cottages, according to the Portland Press Herald. Saulnier did not disclose the purchase price, but the property is listed for $1.88 million. The cottages, to be built by South Paris-based KBS Homes, will be sold individually for between $159,000 and $179,000, and owners will be able to rent them out. The project also includes a clubhouse and a pool, and it could generate an additional $100,000 in tax revenue for the town, according to the paper. The project is under review by the town planning board, and a public hearing is scheduled for June 9.

Saulnier told the paper he hopes to have the project finished by the 2012 summer season, and that he's already gotten inquiries from people interested in buying cottages. The sale won't be finalized until October because the existing cottages are rented for the summer.

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